Pirate's Cove

China has been getting rather frisky for years, building up their military, making moves toward Taiwan and the south Pacific, and has amped that up since Joe came into office. But, you know cultists have to cult

U.S. and China’s next economic battle will be over climate change, experts say

Having long been at loggerheads over trade, technology and capital markets, the world’s foremost economic superpowers are turning their attention to climate change as the next path to commercial supremacy.

China outspent the U.S. nearly two-to-one on energy transition-related investment between 2010 and 2020, according to BNEF data, Bank of America’s ESG Research team highlighted in a report last month.

Pressure points including “supply chain dominance, domestic-focused manufacturing policies, human rights-related laws and carbon-related trade tariffs,” BofA analysts said.

BofA Managing Director of Research Haim Israel said a “climate war” between Washington and Beijing would follow the tech war and trade war as climate change becomes the dominant economic and political theme of the coming decades.

Yeah, quite a bit of that energy they’ve invested in have been coal plants and making super cheap and not as good solar panels to sell to idiot Western nations, undercutting the Western world manufacturers. China is the very definition of “paying lip service” while not actually doing anything, all in an attempt to beat Western nations economically while making moves to ingratiate themselves with 3rd world nations.

“It’s not just about saving the planet. We believe climate strategies offer a route to global supremacy, as much more is at stake here: the economic impact of climate could reach $69 trillion this century, and energy transition investment needing to rise up to $4 trillion per year,” Israel said in a research note in February.

“Energy independence and supply chain control are also at stake with the geopolitical balance of power also linked to peak oil in 2030.”

We’re still doing this “peak oil” thing?

Harry Broadman, managing director and chair of the emerging markets and CFIUS practices at Berkeley Research Group, told CNBC last week that developed countries’ ability to develop, execute and sell products that advance the climate agenda without negatively affecting the labor market would shape the economic landscape in the coming years.

In Reality Land, this won’t happen.

“There can be only one sort of standard in the world from a pure economic perspective. The economies of scale are so powerful that if you have two co-existing standards, someone is going to lose money,” he explained.

“That’s why I think whoever wins that race is going to be on top. That race has begun and the G-7 have not pursued this through collective action, and that is what they have to do. Climate is just an extraordinarily critical case in point.”

That’s about the G7 banding together to Do Something about the climate scam, taking on China. And China will be happy as hell that the U.S. and it’s European partners in the G7 are limiting their economies for this scam while China doesn’t.